The Commission on Higher Education shall ensure that each qualifying college or university receives its proportionate share of the State Higher Education Matching Gift Fund based on the ratio of disbursements. Any monies in the State Higher Education Matching Gift Fund not distributed in any year shall be carried forward for the same purposes in future years and all earnings on monies in the State Higher Education Matching Gift Fund must be retained in the fund and used for its stated purposes.
S.C. Code Ann. § 59-118-100
Proportionate shares; undistributed funds
Known as the South Carolina Academic Endowment Incentive Act
The act spans §§ 59-118-10 to 59-118-90 (10 sections).
1997 Act No. 155, Part II, SECTION 21A.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.